What question did this study set out to answer?

To establish a game-theoretic model that optimizes dynamic service pricing and resolves competition between organizers and service entities in cyber-physical systems.

July 22, 2015IEEE Transactions on Services ComputingOpen Access

Service Pricing Decision in Cyber-Physical Systems: Insights from Game Theory

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Authors

XLXiao LiuUniversity of Science and Technology of China MDMianxiong DongMuroran Institute of Technology KOKaoru OtaTohoku Institute of Technology

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Implication

Computational modeling reveals dynamic pricing equilibrium in cyber-physical systems, indicating optimal decision strategies for service organizers and competitive entities.

Key Points

To establish a game-theoretic model that optimizes dynamic service pricing and resolves competition between organizers and service entities in cyber-physical systems.
Formulated a dynamic price competition framework where service organizers periodically adjust pricing based on the volume of services acquired.
Developed the game-based services price decision (GSPD) model utilizing individual payoff matrices and survival-of-the-fittest competition rules.
Validated the model's performance and pricing dynamics across multiple simulated operational scenarios.
Showed that strategic interaction among service entities under the GSPD model converges toward a Pareto-optimal equilibrium point.
Demonstrated that the proposed framework accurately characterizes real-world price dynamics to support decision-makers under diverse operational conditions.

Cite This Study

Liu et al. (2015) studied this question.

synapsesocial.com/papers/6a75fd6367b8a7e54870755c https://doi.org/10.1109/tsc.2015.2449314

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Implication

Computational modeling reveals dynamic pricing equilibrium in cyber-physical systems, indicating optimal decision strategies for service organizers and competitive entities.

Service Pricing Decision in Cyber-Physical Systems: Insights from Game Theory

Discussion

Member takes

Implication

Key Points

Cite This Study

Service Pricing Decision in Cyber-Physical Systems: Insights from Game Theory

Discussion

Member takes

Implication

Key Points

Cite This Study

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